8 Units with 4 Buildings in West Palm Beach Florida Pending

  • $1,200,000
  • 16 beds
  • 8 baths
  • 7,148 sqft
Pending

Property Description:
Property Type: [8 UNITS]
Construction: CBS
Bedrooms: 16
Bathrooms: 8
Total Sq ft: 7,148
Living Sq ft: 6,496
Lot size: 35,493 Sq ft
Year built: 1974
Taxes: $15,120
Occupancy: Tenant Occupied
Access: No Access yet.

Condition:
Four total Buildings-
3 have a new roof.
Rental grade interiors but nice,
some of the AC units need
maintenance. Lawn is in good shape.
Parking lots can use resurfacing and
new lines painted.

Details:
Current [under rented]
Monthly Rents: $9,100 per month.
Current Gross Annual Income: $109,200
5 units are rented month to month
at $1,200/m
1 unit is rented month to month
at $950/m
2 other units are leased until Jan 2022
at $1150 and $1000/m

Market Rents:
“Eight” 2 bedroom 1 bath Units
are around $1500/m per unit.
Potential Rents are $12,000/m
Potential Gross Annual Income: $144,000.00

Current Expenses:
Taxes: $15,120
Insurance: $10,000
Water Bill: $1,800
Lawn Care: $1,200
Septic Tank Care: $800 [estimated]
Total annual expenses: $28,920

Seller Financing Terms:
Closing Jan 3, 2022
$300K down at signing.
3% interest only-$2,000/month
Annual Ballon payment due each January
of 25% of Financed Price
[approx. $200K] until Jan 2026.
Proof of insurance required and mortgage service provider
will send confirmation of payments to the sellers monthly.
No prepayment of the loan allowed-
must hold the property until Jan 2026 before selling.

Cross Streets:
Western Southern Blvd area

Asking Price: $1,200,000

**This is an Oasis Direct Deal**

Call or Text Rich at (561) 702-5541

Price:
$1,200,000
Address:
Off Southern Blvd**
West Palm Beach, Florida 334XX
Square Feet:
7,148
Lot Size:
35,493
Bedrooms:
16
Bathrooms:
8
Terms:
For Sale
Property Type:
Multi-family
Year Built:
1974

Call (561) 702-5541 for more details

Property Location